Asia Pacific Immunohistochemistry Market Projected To Raise At USD 837.57 Million By 2030

 San Francisco, 29 Feb 2024: The Report Asia Pacific Immunohistochemistry Market Size, Share & Trends Analysis Report By Product (Antibodies, Reagents, Equipment, Kits), By Application (Diagnostics, Research), By End-use, By Country, And Segment Forecasts, 2024 - 2030

The Asia Pacific immunohistochemistry market is anticipated to reach USD 837.57 million by 2030 and is projected to grow at a CAGR of 8.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is driven by the increasing prevalence of chronic diseases, growing geriatric population, and rising healthcare spending. Moreover, technological advancements in disease diagnosis procedures and techniques are further propelling the growth of the overall Asia Pacific market.

The government and key organizations constantly undertake activities intended to curb cancer-related healthcare expenditure by encouraging patients to undergo regular diagnostic examinations. For instance, in February 2023, Japan International Cooperation Agency (JICA) signed an agreement with the Indian government to extend an ODA loan of above USD 66 million for development of a super-specialty cancer and research center in Mizoram, India. Moreover, in May 2023, Fujitsu conducted a research project in association with Takeda Pharmaceutical Company Limited and the National Cancer Center Japan to analyze the process of recognition, diagnosis, and treatment of ovarian cancer patients. Such favorable initiatives undertaken by government bodies and market players are expected to support the Asia Pacific immunohistochemistry industry growth.

Moreover, aging is associated with a greater risk of infections and autoimmune diseases due to a weakened immune system. According to National Council on Aging's 2023 statistics, an estimated 95% of older people suffer from at least one chronic disease, such as cancer, heart disease, diabetes, or infectious diseases, and 80% suffer from at least two. Incidence of cancer increases 11-fold for people above 65 years of age in comparison with people below 65 years, as per European Society for Medical Oncology. Immunohistochemistry plays a vital role in disease diagnosis and treatment planning. Thus, the rise in the geriatric population is expected to increase the need for immunohistochemistry techniques.

However, the high cost associated with automated immunohistochemistry instruments poses a significant challenge in pathology and biomedical research. These instruments, designed to enhance efficiency and reproducibility, come with substantial upfront expenses. Initial acquisition cost includes instrument, software, and necessary accessories, making it a financial barrier for smaller laboratories. For instance, an advanced immunohistochemistry instrument costs around USD 85,000 to USD 90,000, which poses a high burden on hospitals and diagnostic laboratories in developing economies.

Access Research Report of Asia Pacific Immunohistochemistry Market @ https://www.grandviewresearch.com/industry-analysis/asia-pacific-immunohistochemistry-market-report

Asia Pacific Immunohistochemistry Market Report Highlights

• Based on product, antibodies dominated the product segment with more than 41.5% share in 2023 owing to their significant use in disease diagnosis and research applications
• Based on application, research application segment is expected to grow at the fastest CAGR over the forecast period
• In terms of end use, hospitals and diagnostic laboratories segment held the largest share of the Asia Pacific market in 2023. Increase in the number of cancer cases is a significant factor driving the growth of this segment
• In terms of end use, research institutes segment is expected to grow at the fastest CAGR over the forecast period owing to rising research and development activities
• Japan dominated the Asia Pacific market owing to factors such as the increasing prevalence of cancer, high purchasing power parity, government support for quality healthcare, and availability of reimbursement
• In August 2023, Bio-Rad Laboratories, Inc. launched StarBright Red Dye and expanded its range of antibody markers conjugated to StarBright Dyes which now includes 29 additional cow, dog, human, mouse, and pig targets

Asia Pacific Immunohistochemistry Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 506.17 million
Revenue forecast in 2030	USD 837.57 million
Growth rate	CAGR of 8.8% from 2024 to 2030
Base year for estimation	2023
Historical data	2018 - 2022
Forecast period	2024 - 2030

List of Key Players in the Asia Pacific Immunohistochemistry Market

• Thermo Fisher Scientific Inc.
• Hoffmann-La Roche Ltd.
• Merck KGaA
• Danaher Corporation
• PerkinElmer, Inc.
• Bio-Rad Laboratories, Inc.
• Cell Signaling Technology, Inc.
• Bio SB
• Agilent Technologies, Inc.
• Abcam plc.
• HiMedia Laboratories
• IMGENEX INDIA Pvt. Ltd.
• Sino Biological, Inc.
• NICHIREI BIOSCIENCES INC. (NICHIREI CORPORATION)
• MEDICAL & BIOLOGICAL LABORATORIES CO., LTD.
• Immuno-Biological Laboratories Co, Ltd.
• Kyowa Kirin Co., Ltd.
• Amos Scientific PTY. LTD.
• PathnSitu Biotechnologies Pvt Ltd

Access Press Release of Asia Pacific Immunohistochemistry Market @ https://www.grandviewresearch.com/press-release/asia-pacific-immunohistochemistry-market-analysis